Preview the New 2019 Illinois Laws
On January 1, 2019, 253 new Illinois laws went into effect as a result of last year’s 100th General Assembly. At Enterprise Esquire, we endeavor to keep up-to-date on all changes to the law that impact our clients. To help keep you informed, we’ve identified three of these new statutes that we think you need to know about. Of course, there are many more, so take a look at the full list here.
Highlight #1. Consumer Rights Under the Mechanics Lien Act.
We did a full blog post about this statutory change a few weeks ago. This law expands consumer rights by requiring information about the Mechanics Lien Act to be included in the home repair consumer rights brochure. Whether you are a homeowner or a contractor, you need to be informed about this change!
Highlight #2. Reduced Late Fee Penalty for LLC Annual Report Filings.
We have talked at length in previous posts about what goes into creating an LLC and keeping it compliant with federal, state, and local laws. Remember that you need to file an annual report each year with the Office of the Secretary of State? Well, under a new law enacted at the beginning of the month, the late fee penalty has been reduced from $300 to $100. Doesn’t mean that you should forget about your annual filing -- but at least if it slips your mind, the penalty won’t be as steep.
Highlight #3. Changed Property Tax Sales Fees.
This statute changed three different property tax sales fees. When properties are forfeited to the State, they may be put up for sale at a tax sale. This new statute allows: 1) that the county collector should charge no more than $10 for each item purchased as an “automation fee,” 2) in counties with less than 3 million people, the indemnity fee should not be more than $20 (it is currently set at $20), and 3) amends the way that interest and costs are charged to the purchaser by the county board.
Contact Enterprise Esquire for Help
Do any of these new laws raise a red flag for you? Wondering how they may impact you and your business? Get in touch with us at Enterprise Esquire, and we are happy to help. Schedule a FREE 15-minute consultation at your convenience. We can go through any new laws that are worrying you and talk through any impacts they may have on your business.